CONSENT OF INDEPENDENT AUDITORS


We consent to the incorporation by reference in the Registration Statements of
Equity Residential Properties Trust on Form S-3, as amended (File No. 33-96792
and No. 33-97680), and the related Prospectus, of our report dated November 7,
1996 with respect to the Combined Statement of Revenue and Certain Expenses of
the 1996 Acquired Properties for the year ended December 31, 1995, in the
Current Report of Equity Residential Properties Trust on Form 8-K, dated
November 15, 1996.

                                               Ernst & Young LLP


Chicago, Illinois
November 18, 1996